Top PH, US officials to talk trade over Trump tariffs
Metro Manila, Philippines - Top officials from the Philippines and United States will talk trade over the 17% tariff on Philippine goods imposed by the Trump administration.
In a palace briefing, Special Assistant to the President for Investment and Economic Affairs Frederick Go said the government has reached out to the US Trade Representative (USTR).
“We have communicated with them our desire to engage in a meeting or a dialogue with them and they have positively responded,” he said.
Go said he would be scheduling a trip to the US soon.
He said the best possible outcome of the talks would be a free trade agreement with the US that will allow free access of goods to both nations.
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Go said the 17% tariff can be viewed as a “slight advantage” compared to Asian neighbors. The Philippines is second in the region with the lowest tariff under the new rates, next to Singapore with 10%.
“Kapag in-analyze niyo ay medyo mukhang maganda po para sa Pilipinas, may konti po tayong advantage [If you analyze it, it looks a little good for the Philippines, there’s a slight advantage],” Go said.
“However, we are aware that any additional tariff still affects certain industries,” he added.
Citing data from the National Economic and Development Authority, Go said the higher tariff will have a 0.1% impact on the country’s economic growth.
The US is the top destination for Philippine exports, amounting to $58.7 billion or 80.2% in 2024, government data showed.
